Hydro Prolonged the Time Limit with United Minerals Corporation on Australia Joint Venture

News from Oslo, Nov. 13: Hydro said it has prolonged Time Limit with United Minerals Corporation on Western Australia bauxite mining and alumina production.Hydro said it has 75% of shares of this joint venture project. It is estimated that the total invest will be 40 million kr.. Hydro said the most of the primary investigation cost is bared by them. According to the agreement, hydro will acquire explore right. “If there found recoverable resources, they will consider to set up a mine company and a refinery alumina process plant, then we will make invest decision.” It said.